ULIP- Unit Linked Insurance Plan

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The term ULIP stands for Unit Linked Insurance Plan, which is a type of insurance plan offering. The scheme enables you to invest and achieve your long-term financial goals. In addition, it also offers a life cover that ensures financial security for your family in the event of an unfortunate incident.

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Top Funds in Unit-Linked Insurance Plans (ULIP)

Large Cap
Mid Cap
Balanced
Debt
Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Top 200 Fund
Fund Size: 1,663 Cr
1,663 Cr
152.36 1.11%
26.54% Highest Returns
21.71%
20.86%
Get Details
Virtue II
Fund Size: 2,894 Cr
2,894 Cr
66.72 0.60%
22.69% Highest Returns
19.01%
18.63%
Get Details
Pure Equity
Fund Size: 2,337 Cr
2,337 Cr
68.4 0.76%
18.83% Highest Returns
15.54%
17.7%
Get Details
Growth Opportunities Plus Fund
Fund Size: 961 Cr
961 Cr
65.74 0.50%
18.63% Highest Returns
16.39%
17.36%
Get Details
Pure Stock Fund
Fund Size: 6,464 Cr
6,464 Cr
138.94 1.24%
17.33% Highest Returns
15.03%
17.09%
Get Details
Large Cap Equity Fund
Fund Size: 2,544 Cr
2,544 Cr
65.98 0.73%
20.37% Highest Returns
18.21%
16.73%
Get Details
Super Select Equity Fund
Fund Size: 1,245 Cr
1,245 Cr
69.86 0.62%
16.75% Highest Returns
14.37%
16.6%
Get Details
Grow Money Plus Fund
Fund Size: 425 Cr
425 Cr
62.52 0.51%
17.47% Highest Returns
16.1%
16.48%
Get Details
Frontline Equity Fund
Fund Size: 3,212 Cr
3,212 Cr
60.3 0.68%
17.91% Highest Returns
15.42%
16.26%
Get Details
Build India Fund
Fund Size: 39 Cr
39 Cr
56.09 0.49%
16.39% Highest Returns
15.14%
16.11%
Get Details
Whole Life Aggressive Growth Fund
Fund Size: 755 Cr
755 Cr
80.53 0.40%
17.7% Highest Returns
15.75%
15.98%
Get Details
Equity Top 250 Fund
Fund Size: 551 Cr
551 Cr
53.67 0.39%
15.5% Highest Returns
13.19%
15.14%
Get Details
Top 50 Fund
Fund Size: 274 Cr
274 Cr
86.18 0.91%
17.58% Highest Returns
16.26%
15.09%
Get Details
Accelerator Fund
Fund Size: 230 Cr
230 Cr
43.42 0.40%
17.88% Highest Returns
15.71%
14.87%
Get Details
Equity Growth Fund II
Fund Size: 4,836 Cr
4,836 Cr
66.38 0.62%
14.64%
13.83%
14.83% Highest Returns
Get Details
Future Apex Fund
Fund Size: 83 Cr
83 Cr
50.43 0.47%
17.54% Highest Returns
15.04%
14.64%
Get Details
Blue Chip Fund
Fund Size: 8,677 Cr
8,677 Cr
45.77 0.42%
14.59% Highest Returns
13.69%
14.41%
Get Details
Growth Super Fund
Fund Size: 13,759 Cr
13,759 Cr
73.45 0.79%
15.13% Highest Returns
14.49%
14.21%
Get Details
Maximiser
Fund Size: 2,892 Cr
2,892 Cr
61.04 0.74%
15.22% Highest Returns
13.95%
14.1%
Get Details
Enhancer Fund-II
Fund Size: 898 Cr
898 Cr
51.26 0.52%
14.4% Highest Returns
13.49%
13.74%
Get Details
Multi Cap Growth Fund
Fund Size: 19,082 Cr
19,082 Cr
48.06 0.35%
13.44%
11.12%
13.72% Highest Returns
Get Details
Equity Fund
Fund Size: 66,368 Cr
66,368 Cr
183.02 1.68%
14.54% Highest Returns
13.41%
13.61%
Get Details
Value & Momentum
Fund Size: 664 Cr
664 Cr
42.81 0.69%
14.48% Highest Returns
9.14%
13.43%
Get Details
Equity Large Cap Fund
Fund Size: 493 Cr
493 Cr
51.54 0.52%
13.79% Highest Returns
12.31%
13.42%
Get Details
Bluechip Equity Fund
Fund Size: 1,074 Cr
1,074 Cr
40.87 0.46%
15.95% Highest Returns
14.69%
13.27%
Get Details
Future Opportunity Fund
Fund Size: 71 Cr
71 Cr
38.83 0.37%
16.02% Highest Returns
13.8%
13.27%
Get Details
Bluechip Fund
Fund Size: 4,390 Cr
4,390 Cr
41.7 0.38%
14.13% Highest Returns
12.81%
13.22%
Get Details
Super 20
Fund Size: 1,956 Cr
1,956 Cr
58.59 0.60%
14.53% Highest Returns
13.82%
13.21%
Get Details
Magnifier
Fund Size: 1,261 Cr
1,261 Cr
111.18 1.21%
13.56% Highest Returns
12.46%
13%
Get Details
Maximiser Fund V
Fund Size: 55,394 Cr
55,394 Cr
48.59 0.46%
14.4% Highest Returns
12.66%
12.75%
Get Details
Future Maximize Fund
Fund Size: 89 Cr
89 Cr
49.49 0.41%
14.36% Highest Returns
12.41%
12.3%
Get Details
Equity II Fund
Fund Size: 3,400 Cr
3,400 Cr
37.66 0.31%
12.24% Highest Returns
11.03%
11.85%
Get Details
Growth Plus Fund
Fund Size: 552 Cr
552 Cr
33.11 0.27%
12.26% Highest Returns
10.8%
11.69%
Get Details
Blue-Chip Equity Fund
Fund Size: 1,054 Cr
1,054 Cr
32.25 0.25%
12.24% Highest Returns
11.78%
11.54%
Get Details
Growth Fund
Fund Size: 8,706 Cr
8,706 Cr
98.25 0.68%
11.07% Highest Returns
10.21%
10.59%
Get Details
See more funds
Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Whole Life Mid Cap Equity Fund
Fund Size: 11,380 Cr
11,380 Cr
130.89 0.55%
22.82% Highest Returns
17.54%
21.83%
Get Details
Midcap Fund
Fund Size: 1,340 Cr
1,340 Cr
83.83 0.46%
22.36% Highest Returns
16.52%
19.93%
Get Details
High Growth Fund
Fund Size: 5,651 Cr
5,651 Cr
96.53 0.73%
26.41% Highest Returns
20.95%
19.59%
Get Details
Multiplier
Fund Size: 4,058 Cr
4,058 Cr
84.42 1.28%
18.66%
15.48%
19.31% Highest Returns
Get Details
Accelerator Mid-Cap Fund II
Fund Size: 5,938 Cr
5,938 Cr
76.89 0.52%
18.17%
14.69%
18.75% Highest Returns
Get Details
Opportunities Fund
Fund Size: 35,583 Cr
35,583 Cr
67.61 0.36%
18.59% Highest Returns
14.61%
18.27%
Get Details
Classic Opportunities Fund
Fund Size: 12,743 Cr
12,743 Cr
61.19 0.63%
16.46% Highest Returns
14.01%
15.78%
Get Details
Flexi Cap
Fund Size: 1,350 Cr
1,350 Cr
49.49 0.50%
16.49% Highest Returns
14.53%
14.68%
Get Details
Opportunity Fund
Fund Size: 2,949 Cr
2,949 Cr
51.91 0.41%
15.65% Highest Returns
13.85%
14.61%
Get Details
Save N Grow Money Fund
Fund Size: 67 Cr
67 Cr
54.45 0.32%
10.75%
10.37%
11.39% Highest Returns
Get Details
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Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Whole Life Stable Growth Fund
Fund Size: 241 Cr
241 Cr
55.25 0.25%
14.3% Highest Returns
12.62%
12.93%
Get Details
Balanced Fund
Fund Size: 344 Cr
344 Cr
42.84 0.35%
12.38% Highest Returns
11.08%
12.22%
Get Details
Balancer II
Fund Size: 836 Cr
836 Cr
36.13 0.25%
11.85% Highest Returns
10.72%
11.11%
Get Details
Creator
Fund Size: 523 Cr
523 Cr
91.65 0.50%
10.66%
10.01%
11.09% Highest Returns
Get Details
Stable Fund
Fund Size: 21 Cr
21 Cr
32.01 0.24%
11.76% Highest Returns
11.1%
10.93%
Get Details
Multi Cap Balanced Fund
Fund Size: 2,126 Cr
2,126 Cr
37.88 0.21%
10.53%
9.21%
10.84% Highest Returns
Get Details
Managed Fund
Fund Size: 41 Cr
41 Cr
34.67 0.15%
9.5%
8.84%
10.41% Highest Returns
Get Details
Balanced Plus Fund
Fund Size: 2,129 Cr
2,129 Cr
29.57 0.18%
10.23% Highest Returns
8.99%
9.95%
Get Details
Future Balance Fund
Fund Size: 70 Cr
70 Cr
36.26 0.24%
10.15% Highest Returns
9.21%
9.71%
Get Details
Balanced Fund-II
Fund Size: 141 Cr
141 Cr
32.87 0.19%
9.59%
8.71%
9.6% Highest Returns
Get Details
Enhancer
Fund Size: 6,003 Cr
6,003 Cr
97.65 0.26%
8.57%
8.06%
9.06% Highest Returns
Get Details
Cautious Asset Allocator Fund
Fund Size: 36 Cr
36 Cr
31.5 0.09%
6.77%
6.41%
7.54% Highest Returns
Get Details
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Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Pure Fund
Fund Size: 487 Cr
487 Cr
46.47 0.36%
16.5% Highest Returns
13.44%
16.15%
Get Details
Builder
Fund Size: 243 Cr
243 Cr
84.14 0.12%
8.11%
7.8%
9.26% Highest Returns
Get Details
Whole Life Income Fund
Fund Size: 777 Cr
777 Cr
36.27 0.11%
7.25%
7.05%
8.38% Highest Returns
Get Details
Debt Fund
Fund Size: 466 Cr
466 Cr
34.35 0.11%
7.44%
6.87%
8.17% Highest Returns
Get Details
Protector
Fund Size: 305 Cr
305 Cr
60.74 0.02%
7.03%
6.86%
8.16% Highest Returns
Get Details
Dynamic Gilt Fund
Fund Size: 202 Cr
202 Cr
42.61 0.18%
6.52%
6.54%
8.14% Highest Returns
Get Details
Income Advantage
Fund Size: 832 Cr
832 Cr
37.57 -0.05%
7.1%
6.88%
7.96% Highest Returns
Get Details
Steady Money Fund
Fund Size: 75 Cr
75 Cr
36.57 0.10%
6.58%
6.36%
7.91% Highest Returns
Get Details
Dynamic Bond Fund
Fund Size: 1,433 Cr
1,433 Cr
46.13 0.15%
6.64%
6.44%
7.89% Highest Returns
Get Details
Bond Fund
Fund Size: 22,648 Cr
22,648 Cr
44.61 0.14%
6.54%
6.22%
7.68% Highest Returns
Get Details
Income Fund
Fund Size: 9,030 Cr
9,030 Cr
29.08 0.07%
6.38%
6.33%
7.66% Highest Returns
Get Details
Secure Fund
Fund Size: 1,021 Cr
1,021 Cr
41.75 0.12%
6.57%
6.17%
7.61% Highest Returns
Get Details
Preserver II
Fund Size: 80 Cr
80 Cr
26.38 0.10%
6.42%
6.05%
7.3% Highest Returns
Get Details
Future Income Fund
Fund Size: 83 Cr
83 Cr
33.57 0.12%
5.53%
5.37%
7.05% Highest Returns
Get Details
Protector II
Fund Size: 774 Cr
774 Cr
26.9 0.09%
6.02%
5.62%
7.05% Highest Returns
Get Details
Assure
Fund Size: 279 Cr
279 Cr
42.25 -0.03%
6.15%
6.4%
6.99% Highest Returns
Get Details
Whole Life Short-Term Fixed Income Fund
Fund Size: 234 Cr
234 Cr
32.08 0.00%
5.79%
6.05%
6.78% Highest Returns
Get Details
Money Market Fund
Fund Size: 394 Cr
394 Cr
32.29 -0.01%
5.09%
5.52%
6.35% Highest Returns
Get Details
Bond Fund-II
Fund Size: 72 Cr
72 Cr
25.16 0.06%
4.78%
4.44%
6.3% Highest Returns
Get Details
Liquid Plus
Fund Size: 251 Cr
251 Cr
21.34 -0.01%
5%
5.49%
6.14% Highest Returns
Get Details
Dynamic Floating Rate Fund
Fund Size: 20 Cr
20 Cr
35.27 -0.01%
4.94%
5.16%
6.12% Highest Returns
Get Details
Liquid Fund
Fund Size: 72 Cr
72 Cr
73.51 -0.03%
4.39%
4.73%
5.54% Highest Returns
Get Details
Safe Money Fund
Fund Size: 57 Cr
57 Cr
23.01 0.00%
4.06%
4.45%
5.25% Highest Returns
Get Details
See more funds
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Best ULIP Funds - Consider the best performing ULIP funds to invest in 2024 with Policybazaar. Find the list of best ULIP funds in India on the basis of Returns, Latest Nav, Fund Size and Categories

Data source : value research

Returns as on 16-04-2024. The returns are the returns of best-performing fund in the plan

Sameep Singh
Written By: Sameep Singh
Sameep Singh
Sameep Singh Business Unit Head - Domestic Savings
Mr. Sameep Singh is a Business Unit Head for the domestic Investment Business at policybazaar.com, holding a master's from Symbiosis School of Banking & Finance. He has played a pivotal role in crafting investment and term business strategies during his tenure at Policybazaar. His exceptional leadership has been instrumental in driving both product and business growth throughout his impressive career.
Vivek Jain
Reviewed By: Vivek Jain
Vivek Jain
Vivek Jain Head of Savings business
Mr. Vivek Jain is the Business Unit Head for Investment Business at Policybazaar.com. A graduate of the prestigious IIM Calcutta he brings over a decade of invaluable experience to his current role. In his capacity as Business Unit Head, he has been a driving force behind the success of Policybazaar's Investment business. Mr. Jain is recognized for his instrumental role in product innovation within the Savings/Investment domain. His leadership and expertise have been pivotal in scaling up the Investment business, underscoring his significant contributions to Policybazaar.com's growth and success.

What is ULIP (Unit-Linked Insurance Plan)?

ULIPs (Unit Linked Insurance Plans) combine insurance and investment. A portion of premiums provides life coverage, while the rest is invested in various funds. They offer flexibility, tax benefits^, and a unique approach to achieving financial goals.

When you invest in a ULIP plan, a part of your premium goes towards providing you with life insurance coverage, while the rest is invested in different large cap, mid cap, small cap and flexi cap funds of your choice. This makes ULIP plan a unique investment option that can help you achieve your financial goals while also protecting your loved ones in case of an unforeseen event.

You hold the power to select from a diverse range of options – be it equity, debt, or a mix of both funds. 

ULIPs are popular because they offer flexibility to policyholders to choose and allocate funds according to their risk appetite and financial goals. Additionally, ULIP plans offer tax benefits^ under the Income Tax Act 1961^.

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What is ULIP? | How to Choose the Best ULIP Plan in 2024?

Best ULIP Plans in India 2024

Below are some of the best ULIP Plans in India:

Plan Names

Entry Age

Minimum Investment Amount (annually)

10 Year Returns*

Bajaj Allianz Invest Protect Goal 18 years  ₹50,400 21.4%
TATA AIA Smart Sampoorna Raksha 18 years  ₹20,672 19.2%
HDFC Life Sampoorn Nivesh 18 years  ₹12,000 27.5%
HDFC Life Click2Invest 18 years  ₹12,500 27.5%
TATA AIA Fortune Pro  18 years  ₹12,000 21.2% 
Bajaj Allianz Goal Assure II 18 years ₹36,000 23.3%
Bajaj Allianz Smart Wealth Goal III 18 years ₹24,000 23.2%
Aditya Birla Wealth Aspire Plan 18 years  ₹40,000 19.3%
PNB Metlife Mera Wealth Plan 18 years  ₹12,000 18.3%
Bharti AXA Wealth Maximizer 18 years  ₹24,000 17.1%
Kotak Life E-Invest 18 years  ₹12,000 16%
Edelweiss Tokio Wealth Secure+ 0 years  ₹12,000 15%
Future Generali Big Dream  18 years  ₹18,000 14.3%
LIC SIIP Plan 18 years  ₹30,000 16.9% (RSI)
SBI Life eWealth Insurance  5 years ₹24,000 16.1% (RSI)
ICICI Pru LifeTime Classic  0 years ₹30,000 21.6%
Aviva i-Growth 18 years ₹48,000 13.8%
See More Plans

Disclaimer: 
- Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.”
- * The returns are the returns of best-performing fund in the plan. (RSI: Returns Since Inception) 
- Data Source: Value Research

How to Choose the Best ULIP Plans in India?

There are some things that an investor should keep in mind while choosing the best ULIP plans in India. Here’s a list of some pointers to consider while buying one:

Analysis of Personal Investment Goals:

  • Align the ULIP plan with your long-term financial goals and investment horizon.

  • Clearly define insurance objectives based on age, family planning, and future requirements.

Decide Investment Goals:

  • Spend time deciding investment goals, ranging from education funds to post-retirement needs.

  • Look for ULIPs that align with and fulfil your specific investment goals.

Compare ULIPs:

  • Thoroughly compare the features and benefits of different ULIP plans.

  • Utilize online insurance comparison portals for a convenient and detailed analysis.

Flexibility:

  • Evaluate policy tenure flexibility based on your investment horizon.

  • Assess investment flexibility by choosing hybrid, equity, or debt ULIP plans.

Evaluate Risk Profile and Financial Stability:

  • Match risk appetite with investment focus (equity or debt) based on age and financial stability.

  • Younger investors may opt for higher equity exposure, while stability-focused individuals may prefer debt instruments.

Understand Different Charges Levied:

  • Be aware of various charges, including initial charges, premium allocation fees, and fund management fees.

  • Knowledge of charges is essential to select a ULIP plan that suits your financial preferences.

Be Well-Versed with the Features and Benefits:

  • Understand the unique features and benefits of each ULIP plan.

  • Choose a plan that best fits your individual requirements and financial objectives.

Check the Performance of the Plan:

  • Review the historical performance of the ULIP plan over the last three to four years.

  • Compare returns to benchmark indices like Nifty and Sensex to gauge performance.

Solvency Ratio and Claim Settlement Ratio:

  • Ensure the insurance company has a solvency ratio of at least 1.5, indicating financial stability.

  • Check the claim settlement ratio to ensure the company honours claims efficiently.

Performance of ULIP Funds and Investment Strategies Offered:

  • Monitor the long-term performance of ULIP funds to make informed investment decisions.

  • Explore ULIP plans that offer strategic investment options aligned with specific financial objectives.

Read More

What are the Features and Benefits of ULIPs?

Financial Goals:
Get Returns as high as 15%
Fund Control:
Free switching to manage market risk
Flexibility:
SIPs with 150+ fund options
Diverse Portfolio:
Diverse portfolio through market-linked plan
Financial Security:
Life cover for family
Liquidity:
Withdrawal option after 5 years
Benefits Of Market Linked Investment Plans
Get Return as high as 15%
Free Fund Switching
150+ Funds
Life cover
Withdrawable after 5 Years

ULIPs combine insurance and investment, offering flexibility to switch funds, tax benefits^ under Section 80C, and tax-free^ maturity proceeds. With features like a 5-year lock-in, transparent charges, and a top-up facility, ULIP plan promotes long-term financial growth and continuous life cover for loved ones.

Here are the features and benefits of ULIPs explained:

  • Dual Benefit: With ULIP plan, you get the dual advantage of insurance and investment. While a portion of your premium ensures you're covered with life insurance, the other part is invested in various funds of your choice.

  • Flexibility to Switch Funds: ULIPs don't lock you into one investment strategy. You can switch between different ULIP funds based on your investment objectives and risk tolerance. This means you can regularly tailor your investment portfolio to aim for the best returns.

  • Protecting Your Child's Future: Considering your child's future? Child ULIP plans are crafted precisely for this purpose. They come with a standout feature: the "Waiver of Premium.” If something were to happen to you, like a critical illness or disability, this feature ensures your child's policy remains active. Future premiums? They're waived off, and the policy continues as initially agreed.

  • Lock-in Period: ULIPs have a 5-year lock-in period. This isn't just a random number; it encourages disciplined investment. By committing for this duration, you're setting yourself up for long-term financial stability and the potential for maximum returns.

  • Transparency: You always know where your money is going. Detailed statements show you the charges applied, the amount invested, and the insurance coverage you have.

  • Liquidity: After the initial lock-in period, which is 5 years, you can make partial withdrawals to meet any unforeseen financial needs.

  • Tax Benefits^: Investing in ULIP plan can help you avail tax deductions under Section 80C of the Income Tax Act. The maturity proceeds you receive are tax-free under Section 10(10D)^.

  • Long-Term Investment: ULIP plan encourages you to think long-term. With benefits that compound over the years, you're incentivized to stay invested and watch your wealth grow.

  • Top-Up Facility: Got some extra cash? You can invest it in your ULIP plan through the top-up facility, enhancing your fund value and potential returns.

  • Life Cover: Your loved ones are always protected. In the unfortunate event of your demise, they will receive the sum assured or the fund value, whichever is higher.

  • Performance Tracking: ULIPs allow you to monitor the performance of your investments. You can see how your funds are doing and make informed decisions about switching or staying.

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Transparency
All ULIP investments are transparent and hence a good option to put the money in.
Multiple options to choose from
From high to low risk and from equity to debt funds, there are multiple fund options in ULIP to choose from.
Liquidity
ULIPs offer partial withdrawal of money to meet unpredictable events and emergencies.
Higher returns
12-15% returns due to the availability of multiple investment options.
Low Surrender Charges
ULIPs offer reasonable surrender charges compared to traditional plans, making it a good investment option.

Income Tax Benefits on ULIPs

With a maximum exemption of Rs. 1.5 lakh under Section 80C, ULIP premiums qualify for tax savings. Moreover, the maturity benefits from ULIPs remain tax-free^.

To leverage these benefits, it's crucial to ensure the Sum Assured or Death Benefit is at least 10 times the annual premium. Falling short of this requirement reduces income tax benefits^ to 10% of the Sum Assured, and maturity benefits lose their tax-free status.

Claiming tax benefits^ on ULIPs is straightforward. Premiums and maturity proceeds enjoy tax exemption^ under Section 80C and 10(10D)^, making ULIPs an attractive choice for those seeking financial security with added tax advantages^

What are the Types of ULIP Plans?

ULIPs are classified based on their purpose and death benefit. Let us learn about them in detail.

  1. Classification by Purpose

    Various ULIP types include Retirement ULIPs, Wealth Collection ULIPs, Children's Education ULIPs, and Health Benefits ULIPs, helping to meet diverse financial needs and goals.

    • ULIP Plan for Retirement: With Whole Life ULIPs, you have an effective retirement planning tool. The investment component of these plans lets you accumulate a significant corpus over the long term. Imagine having a substantial amount ready for your retirement needs, paid out to you in the form of annuities once you retire.

    • ULIP Plan for Wealth Collection: Are you in your late twenties or early thirties? ULIPs could be your ticket to accumulating wealth over time. By investing in this plan, you gain the flexibility to fund your future financial goals. Think of it as a strategic move to secure your financial future.

    • ULIP Plan for Children's Education: As a parent, don't you want the best for your child's education? ULIP Plans designed for children come with a waiver of premium features. Imagine a situation where, due to disability, critical illness, or even death, you're unable to pay the premium. This feature ensures that your policy continues without any hitches, making sure the financial goals you've set for your child's future remain uncompromised.

    • ULIP Plan for Health Benefits: Did you know that ULIPs offer more than just common benefits? They efficiently provide financial assistance to tackle medical emergencies. So, when health challenges arise, you have a financial cushion to fall back on.

    Read More
  2. Classification by Death Benefits

    ULIP plans come in two types: Type 1 prioritizes life coverage with a higher payout on demise, while Type 2 emphasizes investment, offering the fund value on death. Both types allow customization for diverse financial goals.

    Parameter Type 1 ULIP Plans Type 2 ULIP Plans
    Lock-in period 5 years 5 years
    Investment options Equity, debt, or a mix of both Equity, debt, or a mix of both
    Returns Market-linked returns Market-linked returns
    Death Benefit Plans pay either the sum assured or the higher fund value to the nominee upon the policyholder's death.

    For example: If the sum assured is ₹40 Lakh and the fund value is ₹50 Lakh, the beneficiary shall receive the fund value.
    Plans pay the sum assured and the fund value together, resulting in a higher premium and a larger payout to the nominee.

    For example:  If the sum assured is ₹40 Lakh and the fund value is ₹50 Lakh, the beneficiary shall receive ₹90 lakh (₹40 lakh sum assured + ₹50 lakh fund value).
    Objective Guaranteed death benefit payout Higher returns
    Suitable for Risk-tolerant investors Risk-tolerant investors
    Sum at Risk As the fund value steadily increases over time, the amount of risk faced by the insurance company decreases correspondingly. As the fund value steadily increases over time, the amount of risk faced by the insurance company decreases correspondingly.

What are the Different Types of ULIP Funds?

ULIP plans offer diverse fund options like equity, debt and hybrid funds. This variety allows investors to tailor their portfolios based on risk tolerance and financial objectives.

  • Equity Funds: Invests in stocks of companies, aiming for high returns but with higher risk due to market fluctuations. Good for long-term goals and those comfortable with risk.

  • Debt Funds: Invests in fixed-income instruments like bonds, offering stable returns with lower risk. Suitable for those seeking capital preservation and predictable income.

  • Hybrid Funds: A mix of equity and debt funds, balancing risk and return. They offer moderate growth potential with stability. Ideal for those who want some equity exposure but with a risk buffer.

How Does the ULIP Plan Work?

ULIPs work by combining insurance and investment. A portion of premiums secures life coverage, while the rest is invested in chosen funds. Policyholders can switch funds based on goals. The fund value or sum assured is provided on maturity or death, offering a dynamic financial solution.

  • Best ULIP Plans combine life insurance coverage with investment opportunities.

  • A portion of the premium you pay goes towards providing life insurance, while the rest is invested in various funds based on your investment objective and risk appetite.

  • The investment component is linked to the performance of the funds like Mid Cap Fund, Large Cap Fund, Debt Fund and Balanced Fund you have selected. If the value of the underlying funds goes up, the value of your ULIP investment also increases, and vice versa.

  • ULIP Plan offers investors the flexibility to switch between different funds as per market conditions and performance.

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In order to understand the working of ULIP plans, here’s an example:

Akash, a 30-year-old man, invested in a ULIP Plan for 20 years. He pays a yearly premium of Rs. 50,000 for 10 years. 

Policy Details:

Initial Sum Assured = Rs. 5,00,000 (yearly premium x 10)
Annual Administration and other charges = Rs. 2500
Total Annual Investment = Rs. 47,500
Initial NAV Value = Rs. 10
Units purchased = (47500/10) = 4750

Final ULIP Plan Returns:

Death Benefits Maturity Benefits
Payment made to the nominee if Akash dies within the policy term = Rs. 5,00,000 (Sum Assured) or the Fund Value (whichever is higher). Payment made at the time of maturity if Akash is alive, which is the Fund Value.

Who Should Invest in ULIPs?

ULIP Plan suits investors seeking combined insurance and investment benefits, with the flexibility to customize funds based on goals. Ideal for long-term investors with risk appetite, ULIPs offer tax benefits^ that meet diverse financial objectives.

The following are the ULIP Plans for different classes of investors:

  • Long-Term Investors: If you're someone who believes in long-term investments and can stay committed for a period of at least 10-15 years, ULIPs could be a good fit. Longer duration helps in maximizing the potential returns from the equity market.

  • Risk Takers: Since a portion of the ULIP is invested in market-linked funds, there's an inherent risk involved. If you have an appetite for risk and understand market fluctuations, a ULIP plan might appeal to you.

  • Seeking Dual Benefits: Are you looking for both insurance and investment under a single plan? ULIP plans offer this dual advantage, making them suitable for those wanting a combined package.

  • Tax Savers: ULIP plan offers tax benefits^ under Section 80C of the Income Tax Act^ for the premiums paid. If you're aiming to save on taxes, this could be an added incentive.

  • Flexible Investors: If you like the idea of being able to switch between funds based on market conditions, ULIP plans offer this flexibility. You can move your investments from equity to debt funds and vice versa, depending on market performance and your risk appetite.

  • Goal-Oriented Individuals: If you have specific financial goals like buying a home, funding your child's education, or planning for retirement, ULIP plan can be structured to help you achieve these milestones.

  • Not Looking for Immediate Liquidity: ULIPs usually come with a lock-in period, often of 5 years. If you're okay with not having immediate access to your funds and can wait out the lock-in period, ULIP plan might be suitable.

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Why Invest in ULIPs?

Here’s why you should consider investing in ULIP plans:

  • Higher Returns: ULIP plans offer attractive returns, ranging from 12%-15% over a 10-year tenure. With options like balanced, equity, and debt funds, investors can tailor their choices based on risk appetite. The flexibility to switch between funds allows investors to maximise returns.

  • Hassle-Free Stock Management: ULIPs allow investment in equity-based market funds, providing higher returns without daily stock monitoring. Insurance companies and fund managers handle stock management, bringing expertise to the table. Tools like ULIP NAV simplify portfolio tracking for policyholders.

  • Multiple Fund Options: ULIPs provide a range of fund options, allowing investors to decide how premiums are invested—whether in fully debt, equity, or a combination. Assessing historical returns and ULIP NAV helps choose the most suitable plan based on risk tolerance and changing financial situations.

  • Transparency: ULIPs stand out for their transparency. Policyholders receive information on all charges, including easy-to-understand ULIP NAV and historical returns. This transparency aids in selecting the best ULIP plans aligned with individual needs.

  • Liquidity: ULIPs offer liquidity through partial withdrawals for unforeseen events or emergencies after a lock-in period of 5 years. The readily available ULIP NAV on the insurance company's website helps align investments and insurance coverage with overall financial requirements.

  • Low Surrender Charges: Unlike traditional plans with exorbitant surrender charges, ULIPs have reasonable surrender charges. This feature allows individuals to exit a plan if it becomes unsuitable without significant financial loss, providing flexibility and financial freedom.

In today's financial landscape, making informed investment choices is crucial for achieving long-term financial goals. The Unit Linked Insurance Plan (ULIP) stands out as a compelling option, offering several advantages for those looking to save over the long term.

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Reasons Why ULIPs Can Help You to Save for Long-Term

  1. Disciplined Investment with Lock-in Period

    ULIPs come with a mandatory lock-in period of 5 years, fostering disciplined investment habits. This commitment ensures investors stay invested for the long term, creating a solid financial foundation and maximizing returns.

  2. Potential for Higher Returns

    ULIPs outperform many other investment options, thanks to their equity advantage. By investing half of the premiums in various asset classes, ULIPs aim to generate robust returns while providing essential insurance coverage.

  3. Flexibility in Fund Switching

    ULIPs offer flexibility by allowing investors to switch between funds during the policy tenure. This adaptability enables individuals to align their investment strategy with their risk appetite, choosing from options like equity, growth, income funds, and balanced portfolios. Typically, investors can make up to four free switches per year.

  4. Dual Benefit of Insurance and Investment

    One of the primary attractions of ULIPs is the dual advantage they offer—combining insurance coverage with investment returns. Policyholders not only secure financial protection for their loved ones but also enjoy tax exemptions^, making ULIPs an attractive and lucrative long-term investment option.

ULIPs vs Traditional Plans

Parameters ULIP Traditional Plan
Definition ULIPs are market-linked investment instrument, which provides the dual benefit of investment and protection Traditional insurance plans generally offer a guaranteed maturity benefit and invest in low-risk return options.
Flexibility In ULIP plans, the insured can invest in different funds as per their risk appetite. Traditional plans do not offer any investment option. The fund is invested based on the fund details.
Transparency Most of the ULIP plan allows the policyholder to track their portfolio. Moreover, they can also keep track of their fund performance on a regular basis. The premium paid towards the plan is common with the fund. Thus, the policyholder cannot keep track of the investment portfolio.
Withdrawal ULIP plans offer the benefit of partial withdrawal after the completion of 5 years of the policy tenure. In a traditional plan,  there are restrictions on partial withdrawals and the insured can face losses if they opt for the same.
Switching Option ULIP plans offer the facility to make free switches between funds up to a certain number in a year The policyholder is not allowed to change funds as it is decided by the insurance company.
Maturity At maturity of the policy, the insured can redeem the returns based on the prevailing unit prices At the maturity of the policy, the insured receives the guaranteed maturity benefit plus bonus as per the plan.
Income Tax Benefit^ Income tax benefit can be availed U/S 80C and 10(10D)^ of Income Tax Act The traditional plan also offers Income tax benefit U/S 80C and 10(10D)^ of Income Tax Act
Loyalty benefits Loyalty benefits are given on long term investment of ULIPs Some traditional plans offer loyalty benefits to policyholders for continuing the policy for the full tenure
Risk factor It is a market-linked product so there is a risk element These plans cater to people having a low-risk appetite

How To Buy a ULIP Plan Through Policybazaar?

Let’s take a look at the steps to purchase the best ULIP plans online:

  • Step 1: Go to the official Policybazaar website.

  • Step 2: On the homepage, you'll find various insurance categories. Click on the 'ULIP Plans' option.

  • Step 3: You'll be prompted to enter some basic details like your name, mobile number, email, and other relevant information. This helps Policybazaar provide you with the most suitable ULIP plans based on your profile.

  • Step 4: Once you've entered your details, you'll be presented with a list of the best ULIP plans from various insurance providers. You can compare these plans based on their features, benefits, premiums, fund options, and other relevant parameters.

  • Step 5: After comparing, select the ULIP plan that best suits your needs and click on the 'Buy Now' or 'Proceed' button.

  • Step 6: You'll be taken to a detailed form where you'll need to provide more specific information about yourself, your nominee, and other relevant details.

  • Step 7: ULIPs allow you to invest in various funds based on your risk appetite. You can choose between equity, debt, or hybrid funds. Make your selection based on your investment goals and risk tolerance.

  • Step 8: After filling in all the details and choosing your investment funds, you'll be directed to the payment page. You can make the payment using various methods like credit/debit cards, net banking, UPI, etc.

  • Step 9: Once your payment is successful, you'll receive a confirmation, and the policy document will be sent to your registered email address. Some insurance providers might also send a physical copy to your registered address.

  • Step 10: Review the policy document to ensure all details are correct. Store the document safely, both the digital and physical copies.

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What is a ULIP Calculator?

A ULIP calculator is an online tool that helps investors calculate their premium payments and expected returns based on their investment horizon, risk, and financial goals. The calculator takes into account various factors, such as

  • Amount you wish to invest (monthly/yearly/one-time)

  • Policy tenure (for which you wish to stay invested)

  • Periodic investment period (for which you wish to pay premiums)

  • Expected rate of return

By entering these specifics, the investors can analyze projected investment growth overall and choose a preferred plan.

What are the ULIP Charges?

ULIP charges encompass premium allocation, fund management, policy administration, mortality, and surrender charges. Understand these fees for informed investment decisions.

They are subdivided into the following categories:

  • Premium allocation charge: The fee charged by the insurance company for allocating the principal to various investment funds.

  • Fund management charge: The fee charged by the fund manager for managing the investment portfolio of ULIP.

  • Mortality charge: The fee charged by the insurance company for providing the life cover under ULIP.

  • Policy administration charge: The fee charged by the insurance company to maintain policy records and provide services.

  • Switching charge: The fee charged for switching between different investment funds.

  • Partial withdrawal charge: The fee charged for making partial withdrawals from the investment corpus.

  • Discontinuance or Surrender Charges: If the ULIP is terminated before 4 years, a discontinuance charge will be applied. However, no surrender charges are imposed after the 5th year. The amount of these charges can range from ₹1,000 to ₹4,000, depending on the premium, calculated as a percentage of the fund's value and premium. The Insurance Regulatory and Development Authority of India (IRDAI) establishes the basis for these charges, ensuring they do not exceed the acquisition cost incurred by the insurer.

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What is ULIP NAV?

ULIP NAV, or Net Asset Value is the value of a single unit of a ULIP fund. It signifies the unit's current worth, which is important for assessing investment performance and determining policyholder returns. ULIP NAV is calculated by dividing the total value of the fund's assets by the number of outstanding units.

ULIP NAV is important because it determines the value of your investment. When you invest in a ULIP, you buy units at the current NAV. The value of your investment will increase or decrease depending on the performance of the fund and the changes in the NAV.

ULIP NAV is calculated and published daily by the insurance company. You can find the NAV of your ULIP fund on the insurance company's website or in the fund's fact sheet.

ULIP Plans by Insurance Companies

Choosing the right ULIP plan is important as it helps you secure your financial future. Here are some of the best ULIP plans offered by insurance companies in India:

Aditya Birla Sun Life Insurance
Aviva India
Bajaj Allianz Life Insurance
Bharti AXA Life Insurance
Edelweiss Tokio Life Insurance
Future Generali India Life Insurance
HDFC Life Insurance
ICICI Prudential Life Insurance
Kotak Mahindra Life Insurance
Life Insurance Corporation of India
PNB MetLife India Insurance
SBI Life Insurance
TATA AIA Life Insurance
Aditya Birla Sun Life Insurance

Aditya Birla Wealth Aspire Plan

Key features

Market-linked ULIP plan with a choice of two funds focuses on wealth creation and life protection.

Benefits

  • Flexibility to transfer your money between 16 different funds to maximise your returns.
  • You can enjoy extra coverage by choosing the optional additional rider benefits.
  • We charge no commission when you buy from us.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed.
  • Inbuilt life Cover of ₹12 Lac throughout the policy term.
  • Save up to ₹20.9L under Sections 80 C and 10(10D)^.
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Aviva India

Aviva i-Growth

Key Features

Unit-linked life insurance plan with a loyalty bonus, designed for long-term wealth creation.

Benefits

  • Pay regular premiums and enjoy Loyalty additions in the last 3 policy years.
  • We charge no commission when you buy from us.
  • Inbuilt life Cover of ₹12 Lac throughout the policy term.
  • Twelve free switches to transfer your money between different funds to maximize your returns.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed.
  • Save up to ₹4.75L under Sections 80 C and 10(10D)^.
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Bajaj Allianz Life Insurance

Bajaj Allianz Invest Protect Goal

Key Features

Unit-linked life insurance plan with investment protection, safeguarding your funds against market downturns.

Benefits

  • Life cover of ₹1.12 Cr throughout the policy term.
  • In case of Accidental Death, additional ₹56 Lac cover value is paid along with the life cover.
  • If unable to work due to Accidental Total Permanent Disability, ₹56 Lac cover is paid in addition to the life cover.
  • Mortality charges deducted will be added back to the fund value at maturity.
  • Flexibility to transfer money between different funds for maximizing returns.
  • Withdraw any amount after 5 years, with multiple withdrawals allowed.

Bajaj Allianz Goal Assure II

Key Features

Unit-linked life insurance plan with guaranteed payouts, offering a balance of protection and growth.

Benefits

  • Loyalty additions from the 6th year onwards boost maturity value.
  • Total mortality charges deducted returned to fund value at maturity.
  • No charges for unit allocation.
  • ₹12 Lac life cover provided at no cost.
  • Life cover charges returned at maturity.
  • Flexibility to withdraw any amount after 5 years.
  • Multiple withdrawals allowed.
  • Transfer funds freely between different funds.
  • Save up to ₹24.2L under section 80 C and 10(10D)^.

Bajaj Allianz Smart Wealth Goal II

Key Features

Unit-linked life insurance plan with a wealth creation focus, aiming for high potential returns.

Benefits

  • Increase maturity value with loyalty additions in the 15th, 20th, 25th, and 30th year by staying invested.
  • Mortality charges deducted in the policy returned at maturity and added back to fund value.
  • Premium Allocation charges deducted under the policy are added to Fund value after the 10th Policy year or maturity.
  • No commission charges when purchasing from us.
  • Enjoy ₹12 Lac life cover at no cost, with life cover charges returned at maturity.
  • Withdraw any amount after 5 years, with multiple withdrawals allowed.
  • Flexibility to transfer money between funds for maximizing returns.
  • Save up to ₹23.6L under section 80C and 10(10D)^.
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Bharti AXA Life Insurance

Bharti AXA Wealth Maximizer

Key Features

Unit-linked life insurance plan with a choice of investment options catering to diverse risk appetites.

Benefits

  • 118% of Mortality charges, Premium allocation charges, Fund management charges and Policy administration charges (applicable during the payment term) are refunded into the Policy Fund Value.
  • A percentage of Fund Value is added as Loyalty Additions.
  • Inbuilt life Cover of ₹12 Lac throughout the policy term.
  • You can withdraw anytime after the completion of the Lock-in period.
  • Flexibility to transfer your money between different funds to maximise your return.
  • Save up to ₹15.9L under section 80C and 10(10D)^.
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Edelweiss Tokio Life Insurance

Edelweiss Tokio Wealth Secure+

Key Features

Unit-linked life insurance plan with a guaranteed maturity benefit, ensuring a minimum payout regardless of market performance.

Benefits

  • Increase your maturity value by getting rewarded with loyalty additions 6th year onwards by just staying invested.
  • The amount equal to the total of mortality charges deducted in the policy will be added back to the fund value at maturity.
  • Get rewarded with Wealth Boosters from 10th Year and loyalty additions from 6th year and increase your maturity value.
  • No charges on allocation of units.
  • We charge no commission when you buy from us.
  • ₹12 Lac life cover free of cost. Life cover charges will be returned at maturity.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed.
  • Flexibility to transfer your money between different funds to maximize your return.
  • Save up to ₹12.1L under section 80C and 10(10D)^.
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Future Generali India Life Insurance

Future Generali Big Dream

Key Features

Unit-linked life insurance plan specifically designed for child education and marriage planning.

Benefits

  • Extra allocation from 1% to 7% on each instalment premium is added by the insurer annually for 5 years.
  • No charges on allocation of units and policy maintenance.
  • We charge no commission when you buy from us.
  • Inbuilt life Cover of ₹12 Lac throughout the policy term.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed.
  • Flexibility to transfer your money between different funds to maximise your return.
  • Save up to ₹11.3L under section 80C and 10(10D)^.
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HDFC Life Insurance

HDFC Life Sampoorn Nivesh

Key Features

Unit-linked life insurance plan with loyalty bonus and waiver of premium benefit, rewarding long-term commitment.

Benefits

  • Increase your maturity value by getting rewarded with loyalty additions 10th year onwards by just staying invested.
  • We charge no commission when you buy from us.
  • Inbuilt life Cover of ₹13.2 Lac throughout the policy term.
  • Four free switches to transfer your money between different funds to maximize your returns.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed.
  • Save up to ₹17.6L under section 80C and 10(10D)^.

HDFC Life Smart Protect Plan

Key Features

Unit-linked life insurance plan focusing on both wealth creation and protection, balancing growth with security.

Benefits

  • Inbuilt life Cover of ₹34.4 Lac throughout the policy term.
  • The product offers a return of 2 times the mortality charges starting from policy year 11.
  • 2 times the total Premium Allocation Charges (excluding taxes) shall be added back in the form of allocation of extra units.
  • In case of accidental death, will be paid in addition to the life cover.
  • In the event of total permanent disability due to an accident, get regular monthly income. This monthly income will be equal to 1% of paid over a fixed period of 10 years
  • Sum total of FMC charges (excluding taxes) collected throughout the policy term will become payable at maturity.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed.
  • Save up to ₹40.4L under section 80C and 10(10D)^.

HDFC Life Click2Wealth

Key Features

ULIP plan with dual emphasis on market-linked returns and financial protection, offering simplicity and flexibility.

Benefits

  • Extra 1% of your investment amount is added by the insurer annually for 5 years.
  • The amount equal to the mortality charges deducted in the policy will be added back to the fund value at maturity, provided all due premiums have been received.
  • No charges on allocation of units and policy maintenance.
  • Inbuilt life Cover of ₹12 Lac throughout the policy term.
  • Inbuilt Accidental Death benefit of 5L.
  • Inbuilt Accidental Total and Permanent Disability Benefit of 5L.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed.
  • Save up to ₹18.7L under section 80C

HDFC Life Click2Invest

Key Features

ULIP plan designed for pure market-linked investment with a focus on wealth creation and long-term goals.

Benefits

  • No charges on allocation of units and policy maintenance.
  • Four free switches to transfer your money between different funds to maximise your returns.
  • We charge no commission when you buy from us
  • Inbuilt life Cover of ₹12 Lac throughout the policy term.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed
  • Save up to ₹18.5L under section 80C and 10(10D)^.
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ICICI Prudential Life Insurance

ICICI Pru LifeTime Classic

Key Features

Unit-linked life insurance plan with a choice of investment funds and riders, allowing for customisation.

Benefits

  • No charges on allocation of units.
  • We charge no commission when you buy from us
  • Inbuilt life Cover of ₹12 Lac throughout the policy term.
  • Get rewarded with Wealth Boosters from the 10th year and loyalty additions from the 6th year and increase your maturity value.
  • Four free switches to transfer your money between different funds to maximise your returns.
  • Save up to ₹23.4L under section 80C and 10(10D)^.
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Kotak Mahindra Life Insurance

Kotak Life E-Invest

Key Features

Unit-linked life insurance plan designed for online investing, offering convenience and ease of management.

Benefits

  • We charge no commission when you buy from us
  • The amount equal to the mortality charges deducted in the policy will be added back to the fund value at maturity, provided all due premiums have been received.
  • Inbuilt life Cover of ₹12 Lac throughout the policy term.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed
  • Twelve free switches to transfer your money between different funds to maximize your returns.
  • Save up to ₹13.3L under section 80C and 10(10D)^.
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Life Insurance Corporation of India

LIC SIIP Plan

Key Features

Unit-linked life insurance plan emphasising both safety and growth, catering to risk-averse investors.

Benefits

  • No charges for Policy Administration
  • The amount equal to the mortality charges deducted in the policy will be added back to the fund value at maturity, provided all due premiums have been received.
  • Inbuilt life Cover of ₹12 Lac throughout the policy term.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed
  • Save up to ₹19.5L under section 80C and 10(10D)^.
Learn more about ULIPs Learn More
PNB MetLife India Insurance

PNB Metlife Mera Wealth Plan

Key Features

Unit-linked life insurance plan focusing on wealth creation and protection, offering various fund options and riders for customisation.

Benefits

  • Loyalty Additions will be allocated at the end of every policy year, starting from the end of the sixth policy year.
  • We charge no commission when you buy from us
  • ₹12 Lac life cover free of cost. Life cover charges will be returned at maturity
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed
  • Flexibility to transfer your money between different funds to maximise your return
  • Save up to ₹17.3L under section 80C and 10(10D)^.
Learn more about ULIPs Learn More
SBI Life Insurance

SBI Life eWealth Insurance

Key Features

Unit-linked life insurance plan designed for online investing, offering convenience and a wide range of investment options.

Benefits

Provides life cover, market-linked returns through a user-friendly online platform, access to various fund options, the ease of managing your policy digitally, and potential for wealth creation.

Learn more about ULIPs Learn More
TATA AIA Life Insurance

TATA AIA Fortune Pro

Key Features

Unit-linked life insurance plan with a choice of investment options and riders, allowing for customization based on your risk appetite and goals.

Benefits

  • Loyalty Additions boost fund value after 10 years.
  • Commission-free purchases with us.
  • 12 free switches annually.
  • Flexibility to transfer funds for higher returns.
  • Withdraw any amount after 5 years; multiple withdrawals allowed.
  • ₹12 Lac inbuilt life cover for entire policy term.
  • Save up to ₹25.8L under sections 80C and 10(10D)^.

TATA AIA Smart Sampoorna Raksha

Key Features

Unit-linked life insurance plan specifically designed for child education and marriage planning, providing financial security for your child's future.

Benefits

  • Life cover of ₹1.48 Cr throughout the policy term.
  • Accidental Death Benefit of 50 lacs.
  • Accidental Total and Permanent Disability Benefit of 50 lacs.
  • At the end of the 10th, 11th, 12th, and 13th policy years, 2 times the total Premium Allocation Charges.
  • Starting from the 11th policy year, get 2 times the mortality charge at the end of each policy month in the form of the addition of units.
  • You can withdraw any amount anytime after 5 years. Multiple withdrawals are allowed.
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What are the Myths about ULIP Investment?

Many myths surround Unit Linked Insurance Plans. Let us debunk some of the common myths of a ULIP plan:

Myth 1: ULIPs are risky financial instruments 

Reality: ULIP plans are a combination of part investment and part insurance. Since investors can choose if they want to invest in debt, equity, or a combination of both, the investment risk varies for all. Equity-linked funds are the riskiest of all but offer the highest returns.

Myth 2: ULIPs are expensive due to high charges

Reality: ULIPs have very low charges. The new-age ULIPs come with features like Zero Premium  Allocation & admin charges.

Myth 3: ULIP mandate continuation

Reality: Investors can discontinue a ULIP plan after a 5-years lock-in period without any surrender charges. While not mandatory, it is in the best interest to continue investing in ULIPs after 5 years as it helps accumulate a higher corpus in the long run.

Myth 4: Market volatility reduces life cover 

Reality: The life cover remains unchanged despite market fluctuations. If the insured passes away during the policy term, ULIP plans pay either the complete life cover or the fund value, whichever is higher.

What are New Age ULIPs?

New-age ULIPs are a new generation of Unit Linked Insurance Plans that offer a number of advantages over traditional ULIPs. These plans are more flexible, transparent, and cost-effective, making them a more attractive option for investors.

Some of the key features of new-age ULIPs include:

  • Lower charges: New-age ULIPs have lower charges than traditional ULIPs, such as premium allocation charges, fund management charges, and policy administration charges. This can result in higher returns for investors over the long term.

  • Greater flexibility: New-age ULIPs offer greater flexibility in terms of investment options, fund switching, and partial withdrawals. This allows investors to tailor their investment strategy to their individual needs and risk appetite.

  • Enhanced transparency: New-age ULIPs offer enhanced transparency in terms of fund performance and investment costs. This helps investors make informed decisions about their investments.

Overall, new-age ULIPs offer a number of advantages over traditional ULIPs. Investors looking for a flexible, transparent, and cost-effective investment option should consider investing in a new-age ULIP.

Conclusion

ULIPs, blending insurance and investment, offer a unique financial solution for those seeking dual benefits. While they provide the security of life coverage, their investment component allows for potential wealth accumulation. ULIPs remain a safe and secure option for informed investors in the ever-evolving financial landscape.

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ULIP Faqs

  • What is the difference between a ULIP & SIP?

    Here is the difference between the two investment options: SIP stands for a systematic investment plan that enables an investor to invest a stipulated amount of money in his/her preferred mutual funds at a pre-stipulated interval of time. The investment periodicity can vary from monthly to quarterly or annual basis. In simple words, a systematic investment plan is a planned approach that helps an investor to accrue a large corpus over a period of time. ULIP It is a unique insurance plan, as it comes with double benefits. It is a perfect blend of investment and insurance in a single plan. A ULIP offers the investor to enjoy insurance benefits along with the opportunity to invest in a wide range of investment options of his choice such as bonds and stocks. By this means, the investor enjoys market-linked returns and his/ her insurance needs are also taken care of at the same time.
  • What is assured sum in a unit-linked insurance plan?

    The amount an insurer agrees to pay to the insured’s nominee in case he/she passes away is known as the assured sum.
  • What is the fund value?

    In a unit-linked insurance plan, the value of the insured’s outstanding investment after deducting all the fees/ charges is known as fund value. The insurance premium for ULIPs is bound to attract additional charges. As a part of the premium that you pay towards your ULIP is deducted to meet charges. While some charges like premium allocation charge are deducted upfront as a percentage of the premium, other charges like fund management charge, mortality charge and administration charge are deducted after your money has been invested and from the invested corpus. These charges are deducted by cancelling units at the prevailing net asset value.
  • Is a ULIP taxable at maturity?

    The money received as the maturity benefit of a unit-linked insurance plan is tax-exempted as per section 10(10D)^ of the Income Tax Act, 1961.
  • Is surrender value of ULIP taxable?

    The insurance premium for ULIPs is bound to attract additional charges. Some charges like premium allocation charges are deducted upfront at the rate of predefined percentage. Additionally, there are some charges, such as mortality charges, fund management charges, administration charges etc. deducted after the amount is invested. The charges are deducted by cancelling units at the current net asset value.
  • Is any tax levied on the surrender value of ULIPs?

    Surrendering the plan mid-way has its own drawbacks. Considering the drawbacks, the latest ULIP guidelines were issued in the year 2010. Apart from other changes, the lock-in period was enhanced from 3 years to 5 years. Exiting a unit-linked insurance plan early when the lock-in period of 5 years is in effect means the policyholder has to face losses in the form of additional charges/taxes.
  • Is interest on ULIP taxable?

    No, the interest earned on ULIPs is tax-free.
  • What happens if I can’t continue ULIPs after 5 years?

    If a policyholder stops paying premium after 5 years, then the policy will be terminated on an immediate basis and accumulated policy fund amount till the discontinuation date shall be paid to the policyholder. No surrender charges are for policies that are more than 5 years old.
  • What is a low cost ULIP? Why should I invest?

    In the recent years, IRDAI had capped charges (excluding mortality) at 3% for ULIP policies with tenure of up to 10 years and 2.25% for those policies with term of over 10 years. As a result, commission rate and surcharge values have come down. Due to this, insurance companies have launched ULIPs at a low cost. These investment-cum-insurance plans have become a low cost investment option. Indeed, it is a right time to break the historical aversion to ULIPs and start investing in them. Unlike mutual funds, maturity proceedings in unit-linked insurance plans are tax free under the Section 10(10d)^.
  • What are the common features of ULIPs?

    Unit-linked insurance plan is loaded with following features- Allows for switching between funds Additional riders and benefits Flexibility to choose premium and life cover Tax benefits Top-ups Loyalty additions at the maturity
  • How to make money through ULIPs?

    The secret lies in the art of asset allocation that is choosing and switching between funds. All you have to learn is manage and shift funds strategically. Patience is the virtue you need to have, to be able to make money through ULIPs. Letting the policy live for longer period of time maximize your chances of earning high returns from the investments
  • What are the different types of ULIPs?

    ULIPs can be broadly classified under two heads- Type I ULIP - In case the insured dies, the nominees are paid either the sum assured or the fund value, whichever is higher. Type II ULIP - In case the insured dies, the nominees are paid a total of sum assured and the fund value.

What are the Types of ULIP Plans?

Types of ULIP Plans

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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